It's not income directly for him, it's paid to his label, and that label will take their own cut. My impression is that the label takes the largest cut of all the people involved, but I'm happy to be corrected on that.
In terms of creativity, artistic vision, lyrical difficulty or any other metric, Weird Al should be understood as an incredibly talented musician.
For this conversation, that is completely irrelevant and he still has to pay royalties to the original composer. Furthermore, while Weird Al does have many completely original songs, looking at his streaming numbers that isn't what most people seem to listen to.
The fact that he is both very talented and very creative is both true and irrelevant.
He likely doesn't want to be in front of the Supreme Court someday having to defend the parodic aspect like the famous Barbie Girl case, especially as it is not clear that all of his songs are parodies of the song and not some other aspect in the format of the song.
Spotify's